Pay with PayNow Using Peanut — Coming Soon
Peanut is adding PayNow support. Soon you'll pay at merchants and send SGD across Singapore from your digital dollar balance.
Peanut is adding PayNow support. Soon you'll be able to pay at merchants and send money to anyone in Singapore directly from your Peanut balance — without needing a Singapore bank account or NRIC. PayNow is Singapore's national real-time payment infrastructure, integrated into virtually all bank apps and supporting QR-based merchant payments through the unified SGQR standard. Once the integration goes live, Peanut will connect you to Singapore's payment network using your digital dollar balance.
Singapore is a major financial hub with near-universal digital payment adoption. PayNow sits at the core of daily transactions — from hawker centres to government payments. Today, using PayNow requires a Singapore bank account and NRIC or FIN. Peanut will open up access to the network for anyone, regardless of where they bank.
What Is PayNow?
PayNow is Singapore's national peer-to-peer and merchant payment system, operated by the Association of Banks in Singapore (ABS) and built on the FAST (Fast and Secure Transfers) rail. It enables instant transfers linked to phone numbers or NRIC/FIN numbers — no bank account numbers needed for person-to-person payments.
For merchant payments, Singapore uses the SGQR standard — a unified QR code that consolidates multiple payment schemes into a single label. PayNow is one of the key schemes within SGQR, alongside NETS and other payment networks. This means merchants display one QR code that works with multiple payment apps.
PayNow has also established cross-border payment links with Thailand (PromptPay), India (UPI), and Malaysia (DuitNow), enabling real-time international transfers between these systems. Participating banks include DBS, OCBC, UOB, and GrabPay, among others.
Today, accessing PayNow requires a Singapore bank account and NRIC or FIN registration. For tourists, short-term visitors, and remote workers without Singapore banking credentials, this creates a real barrier to participating in the local payment ecosystem. Peanut will bridge that gap — giving anyone with a Peanut account access to Singapore's real-time payment network.
Where You Can Pay
PayNow and SGQR are widely accepted across Singapore:
- Hawker centres and food courts — the heart of Singaporean dining, from chicken rice to laksa
- Retail shops and malls — Orchard Road boutiques to neighborhood stores
- Restaurants and cafes — from casual kopitiam to upscale dining
- Online merchants — growing e-commerce acceptance
- Taxis and public transport top-ups — selected transport services
- Government payments — fees, fines, and tax payments
Singapore's compact geography and high digital adoption mean that PayNow and SGQR acceptance is near-universal in urban areas. Nearly every merchant that accepts digital payments displays an SGQR code.
Singapore is a major transit hub and financial center, attracting business travelers, tourists, and expatriates from around the world. For those without a Singapore bank account, paying at local merchants can mean relying on international credit cards with foreign transaction fees. Peanut's PayNow integration will give visitors and non-residents direct access to Singapore's instant payment network, cutting out card fees and middlemen.
How It Will Work
- 1
Open Peanut and select Pay
You'll open the Peanut app and tap Pay to activate the QR scanner or initiate a PayNow transfer.
- 2
Scan SGQR or enter a phone number
At a merchant, scan the SGQR code displayed at the counter. For person-to-person payments, enter the recipient's Singapore mobile number.
- 3
Review your payment
You'll see the SGD amount, the digital dollar equivalent, and the exchange rate. The rate will lock at the moment of confirmation.
- 4
Confirm and pay
Tap to confirm. The recipient or merchant will receive Singapore dollars instantly. From their side, it will look like a standard PayNow transaction.
The exact payment flow will be confirmed closer to launch. The steps above describe the general experience based on Peanut's existing payment integrations and PayNow's standard flow.
What You'll Need
When PayNow support goes live, you'll need:
- A Peanut account with identity verification. Verify with your passport or national ID card from any country — under 2 minutes for most users. Your documents are handled securely and Peanut never sees or stores them.
- A funded digital dollar balance. Deposit from any exchange or wallet, or via bank transfer. All deposits are free.
- No Singapore bank account or NRIC/FIN. You won't need a National Registration Identity Card, Foreign Identification Number, or local bank account. Just your passport and your Peanut balance.
Specific requirements and transaction limits will be confirmed at launch.
Fees & Exchange Rate
Peanut charges no fees on payments. When PayNow support goes live, you'll pay at a competitive market exchange rate with no transaction fee and no hidden charges.
Your digital dollars will convert to Singapore dollars at the moment of payment. The SGD is one of Asia's most stable currencies, pegged through an exchange rate-based monetary policy managed by the Monetary Authority of Singapore. The rate locks when you confirm — no slippage, no post-transaction adjustments.
Detailed rate comparisons and savings estimates for the Singapore corridor will be published closer to launch.
